Milacron to Exit Blow Molding Machinery
Milacron intends to divest the blow molding machinery business as not meeting its profitability goals.
With the release on April 30 of its first-quarter earnings report, Milacron Holdings Corp. announced that it has decided to exit and divest its blow molding machinery business within the next year. Few other details are currently available. Sales in blow molding (listed under Discontinued Operations in the first-quarter report) were approximately $90 million in 2018, down from around $95 million in 2017. The company stated, “The blow molding business has historically been difficult to forecast and has not met the profitability targets we aim to achieve.” Milacron CFO Bruce Chalmers added that it will be more consistent with the firm’s profit and growth goals to focus on injection molding and extrusion in its major machinery segment.
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